KARACHI – A massive fire broke out at Gul Ahmed Textile Mills Limited’s warehouse, causing heavy damage to inventories and fixed assets, the company said Monday.
In its filling to Pakistan Stock Exchange, the textile giant confirmed the blaze, assuring investors to calm as industry insiders remained on alert. It said the fire hit certain warehouse facilities hard, but the company’s finance division in Landhi, Karachi, assured stakeholders that all affected inventories are fully covered under comprehensive insurance.
Gul Ahmed officials are working tirelessly with insurance providers, safety authorities, and other key stakeholders to control the situation, evaluate the full extent of damage, and ensure uninterrupted operations.
The companny reiterated commitment to transparency and regulatory compliance, promising timely updates as soon as the damage assessment is complete or if any major developments emerge that could impact business performance or future outlook.
While devastating fire raised immediate concerns in business community, the company’s swift response and complete insurance coverage have helped calm investor fears, for now.
Gul Ahmed Textile Mills expanded its retail footprint with the opening of its largest Ideas by Gul Ahmed flagship store, featuring the newly launched Ideas Cafe, at Dolmen Mall Clifton.
The company was founded in 1953 and listed on the Pakistan Stock Exchange since 1970, Gul Ahmed started as a textile trading business in the early 20th century. In early 2000, the company entered the retail sector with its Ideas brand, offering home textiles, furnishings, and clothing, along with custom embroidery and tailoring services.
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